A DC9-10 FLYING THROUGH ZME; TN; AIRSPACE LOSES OIL QUANTITY AND OIL PRESSURE ON #1 ENG; SO THE FLC DECLARES AN EMER AND DIVERTS TO MEM; TN.

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I HAPPENED TO NOTICE THAT THE L ENG OIL QUANTITY WAS INDICATING ZERO. WE THEN SAW THAT THE OIL PRESSURE WAS IN THE GREEN BUT FALLING SLOWLY. THE FO WAS GIVEN FLYING DUTIES AND ATC. I COMPLETED THE PROCS FOR OIL PRESSURE LOW AND ALSO THE PRECAUTIONARY ENG SHUTDOWN. WE DECLARED AN EMER AND DIVERTED TO MEM. WE THEN NOTIFIED OUR DISPATCHER WHO THEN MADE ARRANGEMENTS FOR ARR IN MEM. NEXT WE TOLD OUR FLT ATTENDANTS WHAT WAS GOING ON AND TOLD THEM THEY HAD 15-20 MINS TO PREPARE FOR A NORMAL LNDG IN MEM. I THEN INFORMED THE PAX THAT WE HAD LOST OIL IN 1 ENG AND WERE OPERATING IT AT 'REDUCED PWR;' AND THAT WE WOULD BE LNDG IN MEM. WE HAD ARPT RESCUE FIRE FACILITY STANDING BY AS A PRECAUTION. WE MADE A NORMAL AND UNEVENTFUL LNDG; ALBEIT ON 1 ENG. AS A PRECAUTION WE HAD A FIRE TRUCK FOLLOW US TO THE GATE. I FEEL THAT OUR TRAINING SERVED US WELL AND THAT DIVIDING UP THE WORKLOAD BTWN THE FO AND MYSELF WERE KEY TO KEEPING THE SIT MANAGEABLE. THE FO DID AN EXCELLENT JOB; AND THE FLT ATTENDANTS WERE VERY PROFESSIONAL AND CALM; WHICH HELPED KEEP THE PAX AT EASE.